It’s a modest victory for CEO Marissa Mayer, reflected in a more than 3% pickup in Yahoo shares in post-market trading. Net income soared to $3.16B from last year’s $298.3M due to the $2.8B Yahoo received from the sale of shares in Chinese e-commerce company Alibaba. Revenues at $1.09B, not including traffic acquisition costs, were up 2%. Still, the revenue figure beat the Street’s forecast of $1.08B. And excluding the Alibaba sale, earnings per share came in at 35 cents — well ahead of the consensus forecast for 26 cents. Perhaps the biggest surprise is the $414M Yahoo recorded from its search business, up 11% from last year. Most analysts figured the new number would come in about $390M or lower. But that was offset by lower-than-expected sales from display ads. They came in at $452M, flat vs last year; analysts predicted at least $470M from display. The earnings release offers no new information about Mayer’s plans for the company. “We’re taking important steps to position Yahoo for long-term success, and we’re confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners, and shareholders,” she says.¬†Yahoo watchers expect her to discuss her vision in a conference call this afternoon.

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